Shorewood, MN
Population 7,679 · Minnesota
About Shorewood, MN
Shorewood is a small town located in Minnesota with a population of 7,679 residents according to the latest US Census Bureau American Community Survey data. The median household income is $172,325 per year, which is 129% above the national median of $75,149. The median age of 48 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Shorewood features a median home value of $684,500, which is 180% above the national median of $244,900. This places Shorewood in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $2,099, 80% above the national average of $1,163/month. Of the 3,021 total housing units, 94% are owner-occupied (2,774 units) and 6% are renter-occupied (178 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Shorewood shows an unemployment rate of 4.5%, which is near the national rate of 3.7%. The poverty rate stands at 5.2%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Shorewood have an average one-way commute time of 23.7 minutes.
Education & Demographics
72.8% of Shorewood residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 2.6% White, 0.8% Hispanic or Latino, 0.1% Black or African American, and 1.5% Asian residents, with 1.9% of the population being foreign-born.
How Shorewood Ranks in Minnesota
Cost of Living in Shorewood, MN
Compared to national averages, Shorewood has a median household income of $172,325 (129% above the national median of $75,149). Home values average $684,500, which is 180% above the national median. Monthly rent at $2,099 is 80% above the US average of $1,163. Within Minnesota, Shorewood's income is 132% above the state average of $74,221, and home values are 235% above the state median of $204,472.
Why Live in Shorewood, MN?
Shorewood offers a strong local economy with a median household income of $172,325, well above the national average, and a well-educated community where 72.8% of residents hold a bachelor’s degree or higher, and a low poverty rate of 5.2%, better than the national average. Additionally, the city features short commute times averaging just 23.7 minutes.
Potential considerations include a competitive housing market where the typical home costs $684,500. However, Shorewood’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Shorewood has a population of 7,679 with a median age of 48 years. Compare Shorewood with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Shorewood
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Belle Plaine | 7,401 | $96,831 | $280,400 | Compare |
| Crookston | 7,388 | $54,003 | $160,700 | Compare |
| Wyoming | 8,063 | $101,938 | $328,900 | Compare |
| Albertville | 8,066 | $126,307 | $326,400 | Compare |
| Mahtomedi | 8,108 | $132,326 | $466,100 | Compare |
| New Prague | 8,195 | $98,424 | $323,500 | Compare |
| Orono | 8,205 | $181,875 | $952,400 | Compare |
| St. Francis | 8,279 | $101,875 | $297,800 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Minnesota
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Shorewood With Other Cities
Frequently Asked Questions about Shorewood
What is the population of Shorewood, MN?
The population of Shorewood, MN is 7,679 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Minnesota.
What is the median household income in Shorewood?
The median household income in Shorewood, MN is $172,325 per year, which is 129% above the national median of $75,149.
What is the median home value in Shorewood?
The median home value in Shorewood, MN is $684,500, which is 180% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Shorewood?
The median monthly rent in Shorewood, MN is $2,099, which is 80% above the national average of $1,163/month.
What is the unemployment rate in Shorewood?
The unemployment rate in Shorewood, MN is 4.5%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Shorewood, MN a good place to live?
Shorewood offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 7,679 and a median age of 48, the city appeals to established professionals and retirees.
How educated is Shorewood, MN?
72.8% of residents in Shorewood aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Shorewood?
Key cost-of-living indicators for Shorewood, MN: median home value is $684,500 (180% above national), median rent is $2,099/month, and median household income is $172,325. The home-value-to-income ratio is 4.0x, a moderate figure by national standards.
What is the poverty rate in Shorewood?
The poverty rate in Shorewood, MN is 5.2%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Shorewood, MN?
Shorewood's population is 2.6% White, 0.8% Hispanic or Latino, 0.1% Black or African American, 1.5% Asian, and 0.2% two or more races. 1.9% of residents are foreign-born.